Tag: tariffs

President Trump said yesterday that he would delay a scheduled tariff hike to 25% on $200 billion worth of Chinese imports that was set to go into effect on March 2 in order to give more time to achieve a negotiated settlement with Beijing. This action represents a positive development for home building and housing affordability.

The agreement between the United States and China to suspend a proposed Jan. 1 tariff boost to 25% on $200 billion worth of Chinese imports, including $10 billion of goods used by the home building industry, is a positive development for the home building industry.

President Trump’s decision yesterday to escalate the trade conflict with China could wind up imposing a $2.5 billion tax increase on residential construction at time when builders are already grappling with higher housing costs.

NAHB urged caution after President Trump today threatened to impose tariffs on $267 billion worth of Chinese imports that would be in addition $200 billion in duties on Chinese goods that the administration is already considering.

In a National Post story on how lumber tariffs are affecting U.S. and Canadian lumber producers as well as American consumers, NAHB CEO Jerry Howard said the domestic lumber industry was behaving in a manner similar to the oil cartels of the 1970s.

President Trump’s plans to propose 10% tariffs on $200 billion worth of Chinese imports — including nearly 500 products used in residential construction — could have major ramifications for the housing industry.

NAHB Chairman Randy Noel, CEO Jerry Howard and senior staff met today with Commerce Secretary Wilbur Ross to discuss the growing problem of escalating lumber prices that are being exacerbated by tariffs on Canadian lumber imports into the U.S.

At the behest of NAHB, 171 members of Congress this week sent a joint letter to the Trump administration calling on the U.S. to resume talks with Canada to negotiate a new softwood lumber trade agreement.

Since the beginning of last year, rising lumber prices — primarily as a result of tariffs on imported Canadian softwood lumber — have increased the price of an average single-family home by more than $7,000.

We need you to take action now by writing the White House and your member of Congress today.

NAHB Chief Economist Robert Dietz joined several other prominent economists at a forum at the National Press Club in Washington today to warn that a trade policy based on tariffs is harmful to growth and prosperity.